LONDON — The selling price of West Texas Intermediate oil, the crucial US
benchmark, has dropped down below $fifty per barrel for the to start with time
considering the fact that December 2016 on Thursday, extending big losses noticed on
As of 10.25 a.m. GMT (5.25 a.m. ET) WTI crude has fallen around
1.6% on the day to trade at $49.48, right after a sharp decline just
ahead of 10.10 a.m. The final time WTI traded at reduced than $fifty per
barrel was on December 15 final calendar year.
The tumble will come right after the newest stock
details from the Department of Energy on Wednesday showed
supplies rose by 8.21 million barrels to 528.4 million barrels.
Which is the
best considering the fact that record keeping commenced in 1982, according to
Bloomberg. That originally pushed oil prices down 5% on Wednesday
evening, but the details appears however to be impacting current market
Right here is the chart:Investing.com
Get the newest Oil WTI selling price here.